Equities Analysts Issue Forecasts for IAMGOLD Co.’s Q1 2024 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Investment analysts at National Bank Financial issued their Q1 2024 earnings estimates for IAMGOLD in a research report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the mining company will earn $0.04 per share for the quarter. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.33 EPS.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. CIBC increased their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. BMO Capital Markets lifted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, Scotiabank upped their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD currently has an average rating of “Hold” and a consensus price target of $3.55.

IAMGOLD Stock Down 4.5 %

Shares of IAG stock opened at $3.50 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $3.92. The company’s fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $2.67. The stock has a market cap of $1.74 billion, a P/E ratio of 18.40, a PEG ratio of 1.46 and a beta of 1.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. purchased a new position in IAMGOLD during the 4th quarter valued at about $26,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of IAMGOLD during the fourth quarter worth about $29,000. Stratos Wealth Partners LTD. acquired a new position in IAMGOLD in the 3rd quarter valued at $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $33,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of IAMGOLD in the 4th quarter valued at about $34,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.